What Do You Think of Credit Unions?
Question: Just saw your piece on moving money to the “George Bailey Banks” (GBB) and the “Too-Big-To-Fail” (TBTF) banks. I really like my credit union — I’d like to hear what you think about credit unions versus GBB and TBTF banks. Thanks!
Paul Solman: I like the idea of credit unions: talk about local! And accounts with them are federally insured to the same extent accounts with banks are. In fact, I first tried to move my money to a credit union near my house, but both of those listed on the moveyourmoney.org website had application restrictions that seemed to exclude me. (I didn’t work for any of the member companies.)